App shows knowledge economy can prosper

A KIND OF NEW SMARTPHONE LIVESTREAMING APP, in which the user wins a small monetary reward by answering 12 multiple-choice questions correctly within a set time limit, has suddenly gained popularity, with hundreds of millions of participants joining in the quizzes. Beijing Youth Daily comments:

The quizzes are broadcast at certain times each day. The total prize money available is generally 1 million yuan ($154,784) for each session, and there are often 2 to 3 million participants, among which tens of thousands will be winners.

The quiz app is the most popular new app of the year so far, but opinion is divided on it. Some applaud it by saying it represents the trend of the knowledge economy, because people need to absorb more knowledge in order to answer the questions. At the same time, some question its further development, saying most participants are attracted by the money. When the funding for the app stops, its popularity will end, they say.

Both sides have their logic. In this age of the mobile internet, it is hard to imagine people would be so interested in answering the questions without any prizes. But the money is definitely not the only reason for the app's popularity. Data show that each winner gets only 5 to 10 yuan for each session. It is unfair to say people answer the questions for nothing but the money.

A look at the past several years shows that the knowledge economy is prospering in China. By August, the number of subscribers for paid knowledge had exceeded 50 million domestically. In comparison, the once popular livestreaming industry has been withering.

That's why some investors are trying to combine the two by developing the new livestreaming quiz apps. Therefore, the answer is clear: The future of the livestreaming quiz apps is still uncertain because their current popularity depends largely on the prizes they offer, but even if they decline in the coming future, the knowledge economy will continue prospering.